SWBK - Why I'm Not Interested in E-Scooter Start-Up Bird
A few years ago, e-scooter rentals were all the rage. Start-ups like Lime and Bird were taking the micro-mobility market by storm, and the boom was enough to attract the attention of ridesharing platforms Uber and Lyft . Both established companies dabbled in e-scooters to varying degrees, including acquiring smaller e-scooter start-ups and/or creating new segments. Uber scooped up Jump and quickly sold it, while Lyft bailed on e-scooter rentals in 2019.
Meanwhile, scrutiny around the economic viability of e-scooter rentals quickly intensified as critics argued that the business of renting e-scooters suffered from horrendous unit economics. That brings us back to Bird, which announced this week that it is going public by merging with special-purpose acquisition company (SPAC) Switchback II (NYSE: SWBK.U) .
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Why I'm Not Interested in E-Scooter Start-Up Bird